Ethena (ENA) surged on Wednesday as cryptocurrencies bounced, and amid major South Korean cryptocurrency exchanges’ listing of the synthetic stablecoin Ethena USD (USDe).

The fresh dose of optimism around Ethena’s governance token ENA saw prominent investor Arthur Hayes express a strong bullish conviction as he predicted a potential spike to $1.

Ethena price gains as Upbit and Bithumb list USDe

South Korea’s leading cryptocurrency exchanges, Upbit and Bithumb, have both added support for Ethena’s USDe.

The platforms announced the listings on Wednesday, which means USDe is now supported on two of Asia’s most active trading markets.

Upbit now supports USDe pairs against KRW, BTC, and USDT, while Bithumb confirmed the listing of the USDe/KRW market.

These listings mean enhanced liquidity, accessibility, and adoption of USDe in a market where fiat-to-crypto trading volumes are often substantial.

Upbit’s listing of tokens has historically coincided with a price surge for the respective cryptocurrencies.

ENA, the governance token of the Ethena protocol, could ride this bullish outlook to new highs.

As of writing, ENA traded around $0.24, up 7% in the past 24 hours. Trading volume jumped 160% to over $389 million while USDe saw a 48% increase in volume as  the listings went live.

ENA’s price reached intraday highs of $0.25 amid this volume surge.

Arthur Hayes sees ENA price rallying to $1

Hayes, co-founder of BitMEX and an influential crypto investor, is optimistic that the ENA price will go parabolic in the short term.

The entrepreneur, who has previously backed Ethena to explode, shared his latest prediction in a post on X, noting “it’s time for $ENA = $1.”

This aligns with Hayes’ other bold market calls, having accumulated ENA during dips.

His latest commentary suggests that increased exchange support, particularly in high-volume markets like South Korea, could catalyze greater adoption. Upward price pressure on ENA may allow bulls to target the psychological $1 level.

ENA last traded around this level in January 2025, with the overall market downturn seeing prices touch lows of $0.22 in June.

A rebound allowed bulls to retest highs of $0.80, but the area marked a double top pattern and prices slumped to under $0.20 in early Jan. 2026.

Ethena’s ongoing efforts to integrate USDe across major platforms, potentially driving further protocol growth and revenue, could cascade upside momentum to ENA.

If the current levels mark a double bottom, a retest of $0.80 and then $1 is likely.

The post Arthur Hayes eyes Ethena price surge to $1 as major Korean exchanges list USDe appeared first on CoinJournal.

Arthur Hayes eyes Ethena price surge to $1 as major Korean exchanges list USDe

Source: https://coinjournal.net/news/arthur-hayes-eyes-ethena-price-surge-to-1-as-major-korean-exchanges-list-usde/

Check our Market Overview 

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research (DYOR).

Sui, Ethena and EigenLayer are some of the top cryptocurrencies whose prices could face heightened pressure amid notable impending token unlocks.

With Bitcoin trading above $112,000, Ethereum above $4,100 and BNB above $1,007, attention is inevitably on what’s next for the top coins. Traders are eyeing an “Uptober” lift amid potential tailwinds for risk assets.

However, upcoming supply releases for SUI, ENA and EIGEN have traders taking note, with potential for increased activity given that unlocks introduce fresh liquidity.

“In an environment where risk appetite is fading, tokens with large unlock schedules may struggle to find sufficient demand,” Tokenomist wrote in their weekly digest. “Until broader momentum improves, these tokens may face continued underperformance relative to the market.”

With this in mind, here’s a brief outlook for Sui, Ethena and EigenLayer ahead of major token unlocks expected in the next seven days.

Sui (SUI) price hovers near $3.30

Sui, the native token of the high-throughput layer-1 blockchain, is currently trading at $3.31, up by nearly 6% in the past 24 hours. However, the SUI price is 1.7% down over the past week.

While overall bullish flip, ETF buzz and DeFi integrations point to significant tailwinds for the token. But in the short term, on October 1, 2025 will see the release of 44 million SUI tokens into circulation.

The cliff unlock, currently valued at around $143.8 million, represents about 1.2% of the circulating supply entering the market.

According to Tokenomist, this cliff unlock primarily targets vested allocations. They include Series B investors, community reserve and early contributors, and follow a vesting schedule that includes linear releases post-initial cliffs to mitigate dumps.

“Despite the size of this release, its impact may be muted,” analysts at Tokenomist added. “ A significant portion of $SUI’s total supply is still locked under a long vesting schedule, with some allocations not set to release until after 2030. This creates a slow-drip emission profile, giving the market time to absorb new supply without aggressive sell pressure.”

Short-term, downward volatility may see bears target support at $2.90. However, ecosystem catalysts like upcoming Bitcoin DeFi expansions and overall risk-on sentiment could cap losses, allowing bulls to take advantage.

Ethena and EigenLayer price outlook

Like SUI, Ethena’s ENA and EigenLayer’s EIGEN tokens will also see notable unlocks this coming week.

ENA’s next major unlock will release 212.5 million tokens worth approximately $126.7 million, or 3.2% of the circulating supply.

The key price levels to watch include $0.55 on the downside and $0.65 on the upside.

Meanwhile, EigenLayer (EIGEN) will see 36.82 million EIGEN tokens valued at $68.5 million and comprising 13.7% of the supply unlocked.

The cliff unlock is for investors and early backers, and a short-term bearish outlook has the key support level near 1.70.

EigenCloud expansions and Google Cloud ties as well as traction in the Ethereum ecosystem, mean a breakout above $2.1 could foster recovery and see bulls target $3.

The post Sui, Ethena, EigenLayer face $339M token unlocks as traders eye ‘Uptober’ rally appeared first on CoinJournal.

Sui, Ethena, EigenLayer face $339M token unlocks as traders eye ‘Uptober’ rally

Source: https://coinjournal.net/news/sui-ethena-eigenlayer-face-339m-token-unlocks-as-traders-eye-uptober-rally/

Cryptocurrencies trade in the green on Friday, fueled by optimism of rate cuts after the latest inflation statistics.

The market cap has reclaimed the $4 trillion mark as large-cap altcoins like Solana steal the show with steady gains.

Meanwhile, this article evaluates the Ethena ecosystem, which has remained on the community’s radar lately due to its thriving USDe synthetic stablecoin.

While Ethena’s native token lags amid broader rallies, fundamentals and technical indicators suggest a massive rally on the horizon.

ENA trades at $0.7722 after a 0.67% dip in the past day, but rising active addresses, whale activity, and transaction volume position the token for impressive rebounds.

Bulls will target the crucial resistance at $1.20, which would mean an approximately 54% surge from ENA’s market price.

Let’s analyze supporting factors.

On-chain data paints a bullish picture for ENA

Crypto analyst and trader Ali Martinez has highlighted Ethena’s flourishing ecosystem, with active addresses, transaction volume, and whale activity on uptrends.

Ethena $ENA active addresses, transaction volume, and whale activity all rising in tandem! pic.twitter.com/oglKv5ZYXV

— Ali (@ali_charts) September 12, 2025

The chart reflects significant network engagement over the past month.

Such developments reflect increased activity from users moving digital assets, transacting, and interacting with decentralized applications (dApps).

That confirms a healthy and growing ecosystem.

Most importantly, whales have also re-entered.

Ethena has seen wallet growth and significant inflows, indicating institutional repositioning ahead of potential ENA rallies.

Ethena’s stablecoin initiative has contributed to the enhanced interest from institutions.

For instance, Mega Matrix filed $2 billion shelf registration for a USDe strategy last week.

The synthetic stablecoin has gained traction due to its yield-bearing model, which distinguishes it from the established USDT and USDC.

USDe ranks 3rd in stablecoin rankings, behind USTD and Circle’s USDC, with its $13.2 billion market cap confirming impressive growth since its February 2024 launch.

ENA price outlook

Ethena’s native token trades at $0.7720 after slight declines over the past day.

Analysts attribute the downside, which coincides with broader rallies, to the project exiting the Hyperliquid stablecoin USDH race.

While the faded trading volumes signal weakness, Ethena exhibits a healthy ecosystem that can support significant rebounds and rallies.

A bullish resurgence would see ENA targeting the foothold at $0.90. That could support stability above the psychological mark at $1.

Ethena will extend toward the key resistance between $1.20 and $1.30 amid continued gains.

That would mean an over 50% uptick from ENA’s current market price.

However, the Fed decision next week will set the market tone and influence Ethena’s short-term performance.

Crypto trader and investor Smith predicts a massive rally for ENA, citing the weekly chart.

He believes a decisive breakout amid an altseason would take the token’s price to $7.

$ENA gearing up for breakout.

Altcoin season could push this 5X higher.

Weekly target: $7+.

Massive rally ahead. pic.twitter.com/PKXKa0Z8Y2

— Smith (@CryptoSmith0x) September 10, 2025

Also, BitMEX co-founder Arthur Hayes has remained confident in Ethena, testifying to that with consistent purchases and bold predictions.

Hayes anticipates a 51x growth for ENA by 2028.

The post Ethena (ENA) eyes 50% rally as whale activity, transactions and users surge appeared first on CoinJournal.

Ethena (ENA) eyes 50% rally as whale activity, transactions and users surge

Source: https://coinjournal.net/news/ethena-ena-eyes-50-rally-as-whale-activity-transactions-and-users-surge/